OppenheimerFunds Hires Sharon French as Head of Beta Solutions

NEWYORK, April 25, 2016 – OppenheimerFunds, a leading global asset manager, today announced that Sharon French joined the firm as Head of Beta Solutions. In this role, French will be responsible for growing the firm’s smart beta business by building on the success of Oppenheimer Factor Weighted ETFs as well as developing new multifactor products to help meet client demand. French will be based in New York and will join the firm’s Senior Leadership Team, reporting directly to Art Steinmetz, Chairman and CEO of OppenheimerFunds.

“We’re delighted to have Sharon join the team,” said Steinmetz. “As we build our smart beta business, we are focused on product development that will continue to differentiate us in the marketplace and complement our long-term, active approach.”

French joins OppenheimerFunds from BNY Mellon, where she was Senior Strategic Advisor to the CEO and President of Investment Management, focusing on ETF and multi asset business growth. Previously, she served as President of F-Squared Capital. Before that, she was Head of Private Client & Institutions at BlackRock for its iShares business. French spent nearly a decade at AllianceBernstein, and held prior roles at mPower, Smith Barney, and Chase Manhattan Bank.

“OppenheimerFunds is a widely respected global asset manager that recognizes the importance of providing innovative products and solutions that address clients’ needs,” said French. “I’m excited to join the team and look forward to building on OppenheimerFunds’ demonstrated commitment to its smart beta offering.”

Vince Lowry, Lead Portfolio Manager for the Oppenheimer Revenue Factor Team, and his team will report to French.

Oppenheimer Factor Weighted ETFs offer a unique way for advisors, wealth managers, and consultants to access the ETF market. By weighting each security in the index on the basis of top line revenue, the Factor Weighted Strategies offer the possibility to reduce overexposure to potentially overpriced sectors and stocks while still providing diversification across every security in an index.

An investment in ETFs is subject to investment risk, including the possible loss of principal amount invested. ETF returns may not match the returns of their respective index, known as non-correlation risk, due to operating expenses incurred by the ETF. The alternate weighting approach employed by ETFs (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because ETFs are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on ETF performance.

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